Transaction limit

14 news stories about Transaction limit

Additional benefit for Mastercard contactless consumers — CorD Magazine — “Mastercard today announced that the maximum amount for contactless payments without a PIN will increase to RSD3,000 (US$28.76)… The current limit for contactless payments without a PIN, set at RSD1,500, was established in 2008.”

Customers of Dutch bank ABN Amro can now connect a wide range of Mastercard-certified wearables to their bank account and use them to make both standard, low value contactless payments and also, by entering a PIN at the point of sale, higher value transactions beyond the contactless limit as well... More

Tesco set to get rid of £30 limit on Apple Pay transactions — MoneySavingExpert — “The supermarket giant has said on social media: ‘We are currently in the process of trialling high value contactless payment with Apple Pay in a few of our stores and will be looking to extend this offer to the rest of our stores estate over the coming year.”

Biometric cards’ ability to enable frictionless customer authentication for higher value contactless transactions will lead to the technology gaining widespread adoption by 2023, Goode Intelligence predicts, with a total of almost 579m biometric payment cards in use around the world in five years’ time... More

Wearable payments specialist Tappy Technologies has unveiled a new watch strap design that combines its existing contactless payments module with a passive fingerprint sensor that can be used to increase the security and transaction limit of wearable contactless payments... More

Societe Generale is testing the idea of issuing bank cards that incorporate a built-in fingerprint verification sensor with the aim of using the added security the cards provide to allow customers to make contactless payments “with no limit on the amount.”... More

Contactless payments usage has grown 30% in the UK over the past year to become the most popular card payment type for in-store transactions, Worldpay reports — and the growth is partly driven by an “astonishing” rise in consumer adoption of mobile payment services... More

Alipay has warned customers that have linked their accounts to their Apple ID to lower their transaction limits, Reuters reports, due to hackers who “have taken an unknown amount of money from accounts using stolen Apple Inc IDs.”... More

KNOWLEDGE CENTRE: Biometric sensor-on-card solutions, where a fingerprint sensor is built into a standard EMV card, “represent an important step forward for the finance industry, opening the way to eliminating fraud for issuers and cardholders, reducing costs and providing the additional security and identity verification required to support remote or cross-border transactions,” the authors of a new white paper conclude... More

China begins regulating QR code payments — The Verge — “The regulations will initially cap payments by traditional QR codes to 500 yuan, or about US$76. When additional security measures are applied, the cap can raise to 5,000 yuan, or around U$765. At an even higher security level, banks and payment processors are given discretion over the cap.”

Research – Shoppers keen to set their own contactless card limit — Paymentsense — “Nearly half (48%) of shoppers would like to customise their contactless card transaction limit, or would like to the ability to do so, according to new research from Paymentsense. For those shoppers wanting a customisable limit, just over a quarter (26%) would immediately raise it, but nearly one in five people (18%) would lower it.”

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